Deadline on May 19th coming up in Lawsuit for Investors in shares of Rite Aid Corporation (NYSE: RAD)

A deadline is coming up on May 19, 2023 in the lawsuit filed for certain investors of Rite Aid Corporation (NYSE: RAD) over alleged securities laws violations by Rite Aid Corporation.

Investors who purchased shares of Rite Aid Corporation (NYSE: RAD) have certain options and there are strict and short deadlines running. Deadline: May 19, 2023. NYSE: RAD stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Northern District of Ohio the plaintiff alleges on behalf of purchasers of Rite Aid Corporation (NYSE: RAD) common shares between April 26, 2018 and March 13, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 26, 2018 and March 13, 2023, the defendants made false and/or misleading statements and/or failed to disclose, among other things, that Until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl, that Rite Aid pharmacists filled these prescriptions despite clear "red flags" that indicated that the prescriptions were unlawful, that Rite Aid ignored evidence that its stores were dispensing unlawful prescriptions, and intentionally deleted internal notes about suspicious prescribers written by concerned pharmacists, that by knowingly filling unlawful prescriptions for controlled substances, Rite Aid violated the Controlled Substances Act and, where Rite Aid sought reimbursement from federal healthcare programs, also violated the False Claims Act, that as a result, it was at risk of prosecution by federal authorities such as the United States Department of Justice ("DOJ"), and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.

Those who purchased shares of Rite Aid Corporation (NYSE: RAD) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.